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1. March Newsletter of K. Treppides & Co Ltd - 11/03/2025

A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in financial advisory and consulting services with offices in three countries....

2. One in three short-term rental accommodations is illegal

3. Cyprus’ tax reform aiming for innovation, sustainability, and simplicity

A major tax reform is underway in Cyprus as part of the Tax Transformation Project, led by the Centre for Economic Research (CER) at the University of Cyprus. ...

4. How Abramovich evaded millions in taxes using Cyprus

A massive tax evasion scheme tied to Roman Abramovich’s superyachts has been uncovered, shedding light on how the Russian billionaire exploited Cyprus’ offshore business environment. Leaked documents reveal that from 2005 to 2012, Abramovich’s companies set up a fake yacht-leasing business in Cyprus to dodge EU taxes on his luxury vessels....

5. Mohamed Salem case: Acquitted on naturalisation charges

The Supreme Court on Thursday acquitted most of the defendants in a case involving irregularities in the Cyprus Investment Programme (CIP) related to the naturalisation of investor Mohamed Salem and his family....

6. Cyprus & Greece Market Overview: 2023-2024 and Projections for 2025 and Beyond

The market underwent significant changes from mid-2023 onwards due to several global and regional factors....

7. Finance Minister signs agreements on crypto and tax info sharing

Cyprus' Finance Minister, Makis Keravnos, has officially signed the Multilateral Competent Authority Agreements (MCAA) under the Global Forum of the Organization for Economic Cooperation and Development (OECD)....

8. Cyprus and Oman sign double taxation deal to boost trade and investment

The Republic of Cyprus and the Sultanate of Oman have signed a new agreement aimed at avoiding double taxation and preventing tax evasion....

9. A critical step for economic growth in Cyprus includes tax reform

Speaking at an Open Discussion Event organized by the G.R.M. Professional Training Center at the St. Raphael Resort in Limassol, under the theme “The Upcoming Tax Reform in Cyprus: Purpose, Guidelines, and Timelines,” the Minister announced that a comprehensive meeting is planned for early 2025....

10. Cyprus plans €10,000 cash limit to fight money laundering

According to Kathimerini's Pavlos Neophytou, the Cyprus government is considering a new law to cap cash transactions at €10,000 for buying goods and services, aiming to crack down on money laundering. ...

11. Cyprus and Netherlands finalize double taxation treaty for Curacao

Cyprus and the Netherlands have successfully concluded negotiations on a Double Taxation Treaty concerning Curacao, a Caribbean island that is part of the Kingdom of the Netherlands....

12. Calls to reduce fines for late UBO submissions in Cyprus

High fines have spurred companies in Cyprus to comply with the submission of beneficial ownership details to the Company Registrar's Beneficial Ownership Register. ...

13. IRS experts aid Cyprus in combating money laundering

In October 1931, notorious American gangster Al Capone was sentenced to 11 years in prison on five counts of tax evasion by the federal justice system, marking a pivotal moment in organized crime history in the U.S....

14. Authorities stumped on declared cash

The question of the whereabouts of over 90 million euros in cash allegedly spent by travelers arriving in Cyprus through Larnaca and Paphos airports in the last 15 months remains unanswered by competent state authorities....

15. Cyprus and France seal the deal on tax cooperation

In a milestone development, Cyprus and France have solidified their commitment to combat double taxation through the signing of a renewed Convention on the Elimination of Double Taxation....

16. Cyprus-France convention breaks fiscal barriers

In a strategic maneuver to bolster economic collaboration, Cyprus and France are gearing up to sign a pivotal Convention on Monday in the capital city of Nicosia....

17. Hunter Biden indicted on tax charges amid intensifying legal woes

Hunter Biden, the son of President Joe Biden, faces new legal challenges as he was indicted on Thursday on nine tax charges in California. The charges, comprising three felonies and six misdemeanors, are in addition to federal firearms charges in Delaware....

18. DAC6 revisited through the prism of DAC8

The Directive on Administration Cooperation (''DAC'') has been amended multiple times since 2011 to allow for the automatic exchange of information across multiple fields of taxation....

19. Shakira's €14.5m showdown ends with a €7m encore

Pop star Shakira has gracefully sidestepped a €14.5 million tax trial in Spain, sealing a last-minute deal with authorities just as proceedings were set to commence....

20. How tens of thousands snag Caribbean ''Golden Passports'' for $100,000

Tens of thousands of passports have been obtained by Russians, Iranians, Chinese and others from Caribbean nations, granting them visa-free travel to European countries, according to a report by the European Commission....

21. Cyprus embarks on ambitious reform and overhaul of tax framework

The Cyprus Tax Framework is set for a significant overhaul as work begins on the Integrated Tax Transformation Project. ...

22. Maria Ressa's Nobel-worthy legal triumph

Philippine Nobel laureate Maria Ressa has been acquitted of her final tax evasion charge in the latest legal victory for the veteran journalist as she battles to stay out of prison over cases that she has previously described as part of a pattern of harassment....

23. Cyprus-Oman double taxation agreement approved

The Council of Ministers approved on Wednesday an agreement for double taxation avoidance and the prevention of tax evasion regarding income taxes as well as the relevant protocol between the Republic of Cyprus and the Sultanate of Oman, Minister of Finance, Makis Keravnos said after the Cabinet meeting....

24. Unmasking tax evasion on Greek islands

New technologies, as well as citizens, are bringing cases of major tax evasion to the surface....

25. Commissioner in Cyprus to probe Russian asset freeze

Commissioner Reynders will request information on the total value of the assets of 'Russian oligarchs' in Cyprus that have been frozen by the authorities he told Cyprus News Agency in an interview, noting that so far, according to official figures 104 million euros in assets have been frozen, which is considered a low amount...

26. Tax evaders beware of what you post on social media

According to a report in the Sunday edition of realnews.gr, the Greek Government plans to identify hidden income earned by individuals and companies that conduct business online. ...

27. The new president and finance minister will face new challenges

We are only a few days away from voting for the new President of the Republic. ...

28. The Belgian wheel is in motion...

Many Cypriots live in a state of frustration. How did Belgian authorities respond decisively to the well-known case, while the island's law enforcement took two weeks to visit Syllouris?...

29. Boris Becker released from UK jail, will be deported

Former Wimbledon champion Boris Becker has been released from jail today and will be deported from the UK, according to the PA news agency....

30. The expansion of the digital economy and the upcoming exchange of information and tax transparency regimes

The exchange of information has been widely considered as a one of the most effective measures in tackling tax evasion and protecting the integrity of tax systems. ...